Wealth management firm St. James’s Place said it will acquire Policy Services Ltd (PSL), the Linlithgow based financial advice firm.

“PSL has been a longstanding provider of administration, fee reconciliation and advice services to partners of SJP and their clients who hold non-SJP policies and plans,” said St. James’s Place.

“Following the acquisition, PSL will be 100% owned by St. James’s Place and will continue to operate as an independent trading entity, directly authorised by the Financial Conduct Authority.

“It will retain its own name and brand.

“There will be no changes to business operations at PSL as a result of the acquisition and this closer alignment of the businesses gives even greater clarity for clients on their overall financial affairs.”

Peter Edwards, establishment director at St. James’s Place, said: “This acquisition is a natural next step in the continuation of a long-standing and successful business relationship.

“We look forward to Policy Services further strengthening the services it offers to Partners and clients who hold non-SJP products in their portfolios.”

Policy Services CEO David Ness said: “We have been a close associate of St. James’s Place for over seventeen years and take great pride in our ability to support clients by providing them with financial advice.”